Question 1

Performing a value chain analysis provides a complete assessment of the firm's strengths and weaknesses.

Accepted Answer

A) True 
 B)False

Question 2

A primary benefit of the "balanced scorecard" is that it complements financial indicators with operational measures of customer satisfaction, internal processes, and the organization's innovation and improvement activities.

Accepted Answer

A) True 
 B)False

Question 3

A marketing department that promises delivery faster than the production department's ability to produce is an example of a lack of understanding of the

Accepted Answer

A)   interrelationships among functional areas and firm strategies HYPERLINK "" .
B)   need to maintain the reputation of the company.
C)   organizational culture and leadership.
D)   synergy of the business units.E) B) and D)
F) A) and D)

Question 4

An important implication of the balanced scorecard is that managers need not look at their job as primarily balancing stakeholder demands.

Accepted Answer

A) True 
 B)False

Question 5

The balanced scorecard enables managers to evaluate their business from only two perspectives: customer and financial.

Accepted Answer

A) True 
 B)False

Question 6

Which of the following is not an advantage of Just-In-Time inventory systems?

Accepted Answer

A)   Reduced raw material storage costs
B)   Minimized idle production facilities and workers
C)   Reduced work-in-process inventories
D)   Reduced dependence on suppliersE) C) and D)
F) B) and D)

Question 7

Which of the following is a support activity?

Accepted Answer

A)   Inbound logistics
B)   Operations
C)   Technology development
D)   Customer serviceE) B) and C)
F) A) and D)

Question 8

What are the key advantages of value chain analysis over SWOT analysis?

Accepted Answer

Value chain analysis develops ...

Question 9

Products and services that are difficult to imitate help firms sustain their profitability.

Accepted Answer

A) True 
 B)False

Question 10

The resource-based view (RBV) combines both the internal analysis of the firm and the external analysis of the environment. Discuss and provide examples.

Accepted Answer

The resource-based view suggests that fi...

Question 11

The "balanced scorecard" developed by Kaplan and Norton helps to integrate

Accepted Answer

A)   financial analysis and a firm's reputation.
B)   intangible resources and operational measures.
C)   financial analysis and stakeholder perspectives.
D)   short-term perspectives and strategic positioning.E) B) and D)
F) B) and C) C

Question 12

What are some of the most important implications of using the "balanced scorecard" approach?

Accepted Answer

The balanced scorecard provide...

Question 13

A crash R&D program by one firm cannot replicate a successful technology developed by another firm when research findings cumulate. This is an example of

Accepted Answer

A)   social complexity.
B)   path dependency.
C)   physical uniqueness.
D)   causal ambiguity.E) B) and C)
F) A) and D)

Question 14

Path dependency has no impact on the inimitability of resources.

Accepted Answer

A) True 
 B)False  False

Question 15

Campbell's Soup uses continuous replenishment for the Loblaw stores it supplies in Canada.

Accepted Answer

A) True 
 B)False

Question 16

In assessing its primary activities, an airline would examine

Accepted Answer

A)   employee training programs.
B)   baggage handling.
C)   criteria for lease versus purchase decisions.
D)   the effectiveness of its lobbying activities.E) B) and D)
F) None of the above

Question 17

A competitive advantage based on inimitability can be sustained for at least some time if it has the following characteristics

Accepted Answer

A)   Physical uniqueness, path dependency, causal ambiguity, and social complexity.
B)   Psychographic uniqueness, path dependency, causal ambiguity, and substitutability.
C)   Rarity, path dependency, causal ambiguity, and social substitutability.
D)   Geographic uniqueness, cause dependency, social ambiguity, and path complexity.E) A) and C)
F) B) and C)

Question 18

The "balanced scorecard" provides top managers with a _____ view of the business.

Accepted Answer

A)   detailed and complex
B)   fast but comprehensive
C)   simple and routine
D)   long-term financialE) C) and D)
F) A) and C)

Question 19

Primary activities contribute to the physical creation of a product or service, its sale and transfer to the buyer, and its service after the sale.

Accepted Answer

A) True 
 B)False  True

Question 20

How can a firm develop (or enhance) its advantages in the marketplace by having strong, positive interrelationships among its value chain activities and those of its suppliers and customers? Provide an example.

Accepted Answer

Having strong, positive interrelationshi...

Exam 3: Assessing the Internal Environment of the Firm

Performing a value chain analysis provides a complete assessment of the firm's strengths and weaknesses.

Correct AnswerverifiedShow Answer

A primary benefit of the "balanced scorecard" is that it complements financial indicators with operational measures of customer satisfaction, internal processes, and the organization's innovation and improvement activities.

Correct AnswerverifiedShow Answer

A marketing department that promises delivery faster than the production department's ability to produce is an example of a lack of understanding of the

Correct AnswerverifiedShow Answer

An important implication of the balanced scorecard is that managers need not look at their job as primarily balancing stakeholder demands.

Correct AnswerverifiedShow Answer

The balanced scorecard enables managers to evaluate their business from only two perspectives: customer and financial.

Correct AnswerverifiedShow Answer

Which of the following is not an advantage of Just-In-Time inventory systems?

Correct AnswerverifiedShow Answer

Which of the following is a support activity?

Correct AnswerverifiedShow Answer

What are the key advantages of value chain analysis over SWOT analysis?

Correct AnswerverifiedValue chain analysis develops ...View AnswerShow Answer

Products and services that are difficult to imitate help firms sustain their profitability.

Correct AnswerverifiedShow Answer

The resource-based view (RBV) combines both the internal analysis of the firm and the external analysis of the environment. Discuss and provide examples.

Correct AnswerverifiedThe resource-based view suggests that fi...View AnswerShow Answer

The "balanced scorecard" developed by Kaplan and Norton helps to integrate

Correct AnswerverifiedC

What are some of the most important implications of using the "balanced scorecard" approach?

Correct AnswerverifiedThe balanced scorecard provide...View AnswerShow Answer

A crash R&D program by one firm cannot replicate a successful technology developed by another firm when research findings cumulate. This is an example of

Correct AnswerverifiedShow Answer

Path dependency has no impact on the inimitability of resources.

Correct AnswerverifiedFalse

Campbell's Soup uses continuous replenishment for the Loblaw stores it supplies in Canada.

Correct AnswerverifiedShow Answer

In assessing its primary activities, an airline would examine

Correct AnswerverifiedShow Answer

A competitive advantage based on inimitability can be sustained for at least some time if it has the following characteristics

Correct AnswerverifiedShow Answer

The "balanced scorecard" provides top managers with a _____ view of the business.

Correct AnswerverifiedShow Answer

Primary activities contribute to the physical creation of a product or service, its sale and transfer to the buyer, and its service after the sale.

Correct AnswerverifiedTrue

How can a firm develop (or enhance) its advantages in the marketplace by having strong, positive interrelationships among its value chain activities and those of its suppliers and customers? Provide an example.

Correct AnswerverifiedHaving strong, positive interrelationshi...View AnswerShow Answer

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Value chain analysis develops ...
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The resource-based view suggests that fi...
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C

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The balanced scorecard provide...
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False

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True

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Having strong, positive interrelationshi...
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